Allied Asset Advisors

Experiencing a lack of Islamically-permissible options to help secure a family’s financial future, the North American Islamic Trust (NAIT), a pioneer Islamic organization, along with a group of other community leaders decided to introduce a halal mutual fund. 

In 1984, the first halal mutual fund was launched. One of the founding leaders of this mutual fund was Dr. Bassam Osman, a neurologist by training. Dr. Osman went on to found Allied Asset Advisors and launch Iman Fund (ticker IMANX) on June 30, 2000. To this day, Allied Asset Advisors serves as the adviser to the Fund and Dr. Osman remains the Portfolio Manager. 

Islamic organizations, mosques, and Islamic centers were among the initial investors. The Fund swiftly grew, adding a large number of individual investors as well.